China A-share coal stocks rally in afternoon trade; Dayou Energy nears limit-up

A broad, synchronized move across coal names without a disclosed catalyst points more to sector-level positioning or sentiment than to company-specific news, which makes the durability of the rally the real question. The absence of a stated trigger also means the move is harder to anchor to fundamentals, leaving it more exposed to reversal if no follow-through emerges. For RWA and tokenization watchers, coal equities are a reminder that China's traditional energy complex still trades on domestic flows and policy signals rather than on-chain narratives. Whether the sector holds these gains into the next session is the open question.